SWIFT MT101 Basic example two domestic transactions

Basic SWIFT MT101 Message with two domestic transactions

24
In the previous article, we saw how corporations use the SWIFT MT101 message to transfer funds either domestically or internationally. Now we want to go deeper and look at the content of SWIFT MT101 messages. The SWIFT MT101 message specifications is of great help to understand the messages content. Take few minutes to read...

How Corporations use the SWIFT MT101 Request for transfer

36
The SWIFT MT101 Request for Transfer is a payment initiation message used by corporations to send domestic and/or international payment instructions to their banks. The equivalent of the SWIFT MT101 message in the ISO 20022 standard is called the Pain.001 (Customer Credit Transfer Initiation). The MT101 message can be used in many ways and...
MT103 Serial Payment 3 between Receiver correspondent Account Institution

SWIFT MT103 serial payment analysis 3/3

17
This is the third and last article about a SWIFT MT103 serial payment (so settled via the serial method). We already studied the cover method and how it is used to settle that payment. Read the series of articles to which I refer you in this article if you want to learn more about...
MT103 Serial Payment 2 between Sender correspondent Intermediary Institution

SWIFT MT103 serial payment analysis 2/3

1
This is the second article where we are looking at a concrete example of MT103 serial payment. We already saw how the cover method is used to settle that payment. Read the series of articles I refer you to in the previous article if you want to learn more about the cover method. When the...
MT103 Serial Payment 1 between Debtor bank correspondent

SWIFT MT103 serial payment analysis 1/3

51
In a previous article, serial and cover methods were presented. Then we analyzed a concrete example of payment settled with cover method in the following articles: SWIFT MT103 202 Cover payment analysis – part 1 SWIFT MT103 202 Cover payment analysis – part 2 SWIFT MT103 202 Cover payment analysis – part 3 SWIFT...
SWIFT MT940 sent Bank authorized account owner

Opening, Closing and Forward Available Balances in the SWIFT MT940 Format

8
In the SWIFT MT940 format specifications, there are four fields for balances: F60a Opening Balance, F62a Closing Balance (Booked Funds), F64 Closing Available Balance (Available Funds) and F65 Forward Available Balance. The aim of this article is to explain the meaning of each balance field and how they are calculated. This will be illustrated through...
SWIFT MT940 Customer Statement

SWIFT MT940 Customer Statement – Detailed analysis

51
The SWIFT MT940 is called Customer Statement Message. It is basically an account statement and therefore provide detailed information about all entries booked to an account. It can be sent: either directly to the account owner - In the SWIFT world account owners are banks or corporations. or to financial institution authorised by account...
SWIFT MT950 Statement Detailed Analysis

SWIFT MT950 Statement Message – Detailed analysis

29
The SWIFT MT950 is an account statement sent by a Bank to its customer. We are all familiar with account statements, so it is easy to understand the content of a SWIFT MT950 Statement message. An account statement contains an opening balance, the debit and credit entries booked to the account and a closing...
payment mastering program 2022

MOST POPULAR